Government securities and debt management in the 1990s:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Paris
OECD
1993
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Franz. Parallelausg. u.d.T.: Les titres publics et la gestion de la dette dans les années 90 |
| Physical Description: | 226 S. |
| ISBN: | 9264140115 |
Staff View
MARC
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| 500 | |a Franz. Parallelausg. u.d.T.: Les titres publics et la gestion de la dette dans les années 90 | ||
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Record in the Search Index
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|---|---|
| adam_text | Table of Contents
Q Executive Summary 9
Objectives of government debt management policy 9
Institutional and organisational aspects of government debt
management 9
Government debt instruments 10
Selling techniques 11
Secondary markets for government securities 12
Techniques of liability management 12
How to use the book 13
II. Recent Developments in Government Debt Management and Government
Securities Markets 15
Changing trends in government borrowing requirements and
government debt 15
Changing priorities in government debt management policy 16
Further strengthening of the role of market principles in government
debt management 17
Intensified internationalisation of government securities markets 17
Improving the depth and liquidity of wholesale markets for
government securities 18
Improved market functioning and market management through
specialists in government securities ( primary dealers ) 19
Increased role of automation in government securities markets 20
Safer and more efficient clearing and settlement procedures 20
Further efforts towards strengthening the retail base of the markets
for government securities 21
Diverging trends between diversification or simplification of
the arsenal of government debt instruments 22
^H|) Objectives of Government Debt Management Policy 37
Covering the government s borrowing needs 38
Ensuring the government s continued access to the financial market 39
Minimising borrowing costs 39
Ensuring an effective and efficient liability management with
regard to costs and risks 40
Structuring liabilities to match government assets 40
Minimising the market impact of government debt operations 41
Broadening the range and the distribution of government debt
instruments 41
5
Ensuring an effective management of new issue operations 42
Ensuring an efficient functioning of the secondary markets for
government securities 43
Achieving a balanced maturity structure 43
Contributing to an improved functioning of financial markets 43
Contributing to the development of the bond market as a whole 44
Promoting household saving generally or longer term forms of
household saving 44
Contributing to a better distribution of income and private wealth 44
Co ordination between government debt management policy and
monetary policy 44
IV. Institutional and Organisational Aspects of Government Debt Management . . 47
Position of the government debt management office in the
government organigramme 47
Administrative functions 49
Primary and secondary market organisation 50
Institutional arrangements for interventions in the secondary
markets for government securities 50
Institutional arrangements for co ordination between government
debt management policy and monetary policy 51
(^ Government Debt Instruments 53
Treasury bills and other short term marketable government
debt instruments 54
Medium term and long term marketable government debt instruments 55
Interest rate features 62
Flexibility in maturities 67
Maturity options 67
Redemption features 69
Tax features 69
Non marketable government debt instruments for personal investors 72
Liquidity features 73
Interest rate features 74
Tax features 76
Limitations on the acquisition and holding of government savings bonds . . 76
Scope for rationalisation 76
Non marketable government debt instruments for financial institutions 77
Other government borrowing arrangements 87
VI. Selling Techniques 89
Institutional selling arrangements 90
Selling government securities via fixed price public subscription
techniques during a relatively short subscription period 91
Selling government securities via auction techniques 97
Selling government securities via tap issue techniques 112
Private placement techniques 116
Combinations of selling techniques H6
The timing of new issues of government securities 12°
Mandatory investment regulations 121
6
VII. Secondary Markets for Government Securities 123
Trading techniques 124
Standardisation 130
Specialists in government securities ( primary dealers ) 131
Derivative markets 132
Clearing and settlement 146
Automation 148
^Ht} Techniques of Liability Management 151
Definition of objectives 151
Definition of the benchmark debt structure 152
Adequate accounting framework 153
Flexibility in debt restructuring 155
Annex 1. Overview of Domestic Government Debt Instruments in OECD
Member Countries 159
Annex 2. Overview of Techniques of Selling Domestic Government Debt
Instruments in OECD Member Countries 173
Annex 3. Government Debt Statistics by Instruments 185
Annex 4. Contact Points for Further Information 223
7
|
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| discipline | Wirtschaftswissenschaften |
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| id | DE-604.BV008382260 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T17:19:00Z |
| institution | BVB |
| isbn | 9264140115 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-005527652 |
| oclc_num | 29503772 |
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| physical | 226 S. |
| publishDate | 1993 |
| publishDateSearch | 1993 |
| publishDateSort | 1993 |
| publisher | OECD |
| record_format | marc |
| spelling | Bröker, Günther Verfasser aut Government securities and debt management in the 1990s by Günther Bröker Paris OECD 1993 226 S. txt rdacontent n rdamedia nc rdacarrier Franz. Parallelausg. u.d.T.: Les titres publics et la gestion de la dette dans les années 90 DEBT MANAGEMENT unbist Openbare schulden gtt PUBLIC DEBT unbist Staatsleningen gtt Debts, Public Government securities Staatsanleihe (DE-588)4182638-3 gnd rswk-swf Debt Management (DE-588)4121127-3 gnd rswk-swf Staatsanleihe (DE-588)4182638-3 s Debt Management (DE-588)4121127-3 s DE-604 Parallele Sprachausgabe französisch Bröker, Günther Les titres publics et la gestion de la dette dans les années90 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005527652&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Bröker, Günther Government securities and debt management in the 1990s DEBT MANAGEMENT unbist Openbare schulden gtt PUBLIC DEBT unbist Staatsleningen gtt Debts, Public Government securities Staatsanleihe (DE-588)4182638-3 gnd Debt Management (DE-588)4121127-3 gnd |
| subject_GND | (DE-588)4182638-3 (DE-588)4121127-3 |
| title | Government securities and debt management in the 1990s |
| title_auth | Government securities and debt management in the 1990s |
| title_exact_search | Government securities and debt management in the 1990s |
| title_full | Government securities and debt management in the 1990s by Günther Bröker |
| title_fullStr | Government securities and debt management in the 1990s by Günther Bröker |
| title_full_unstemmed | Government securities and debt management in the 1990s by Günther Bröker |
| title_short | Government securities and debt management in the 1990s |
| title_sort | government securities and debt management in the 1990s |
| topic | DEBT MANAGEMENT unbist Openbare schulden gtt PUBLIC DEBT unbist Staatsleningen gtt Debts, Public Government securities Staatsanleihe (DE-588)4182638-3 gnd Debt Management (DE-588)4121127-3 gnd |
| topic_facet | DEBT MANAGEMENT Openbare schulden PUBLIC DEBT Staatsleningen Debts, Public Government securities Staatsanleihe Debt Management |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005527652&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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